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Archive: July, 2023

Posts in July, 2023

Clarification on Input Tax Credit (ITC) Differences in GSTR-3B & GSTR-2A

July 18, 2023 20955 Views 0 comment Print

Gain clarity on Input Tax Credit (ITC) differences between GSTR-3B and GSTR-2A for the period 01.04.2019 to 31.12.2021 with guidance from Circular No. 193/05/2023-GST.

Green Finance: Aligning Profitability with Environmental Responsibility

July 18, 2023 1569 Views 0 comment Print

Explore the world of Green Finance, where profitability meets environmental responsibility. Learn about green bonds, loans, and investment funds driving sustainable development. Discover why green financing matters and how its gaining momentum globally. Stay informed on Indias transition to net-zero emissions through innovative green finance solutions. Join the movement for a greener and more sustainable future.

Recommendation for appointment of liquidator other than IRP/RP

July 18, 2023 6399 Views 0 comment Print

Insolvency and Bankruptcy Board of India’s latest recommendation about appointing liquidators other than RP/IRP under Section 34(4)(h) of the IBC, 2016.

SAS 700: Promoting Rural, National, Paralympic & Olympic Sports

July 18, 2023 960 Views 0 comment Print

Explore the impact of SAS 700, a comprehensive social audit framework, on promoting rural sports, nationally recognized sports, Paralympic sports, and Olympic sports. Discover the evaluation process, key metrics, challenges, and areas for improvement in sports development initiatives. Gain insights into the significance of sports in India’s education system and the government’s initiatives to support athletes.

GST: Taxability of Inter-State Office Services Clarified

July 18, 2023 3315 Views 0 comment Print

CBIC issued Circular No. 199/11/2023-GST to provide clarity on taxability of services rendered by an office of an organization in one state to another office of same organization in a different state.

Clandestine Removal Charges not Sustainable based on Audit Report vs ER-1 Return

July 18, 2023 1428 Views 0 comment Print

CESTAT Kolkata judgment, where Micky Metals Limited successfully challenged a claim of clandestine removal based solely on discrepancies in audit report and ER-1 return figures. Understand the implications and insights from the case ruling.

Section 12A: Voluntary Corpus Contribution by Unregistered Trust Not Taxable

July 18, 2023 3054 Views 0 comment Print

ITAT Ahmedabad rules that voluntary contributions received towards a trust’s corpus by an unregistered trust under Section 12A are capital receipts and therefore, not taxable. Explore more about this landmark decision.

Non-Filing of Audit Report (Form 10B) Not an Impediment for Exemption Claims

July 18, 2023 12759 Views 0 comment Print

Detailed analysis of the ITAT Ahmedabad’s ruling in the Hari Gyan Pracharak Trust Vs DCIT case, highlighting the importance of procedural and substantive aspects of audit report filing.

ITAT Deletes Penalty under Section 272A(1)(d) for Technological Illiteracy and Third-Party Negligence

July 17, 2023 18240 Views 0 comment Print

Understand the landmark case of Maqsood Ali Vs ITO, where the Income Tax Appellate Tribunal (ITAT) in Delhi ruled against imposing a penalty under section 272A(1)(d) for non-compliance of statutory notices given reasonable cause.

ITAT Dismisses Appeal as Defective due to Continuous Absence of assessee

July 17, 2023 1470 Views 0 comment Print

Get an in-depth analysis of the ITAT Delhi case, where the appeal filed by Geetu Kamra was dismissed due to her continuous absence and non-compliance with court directives.

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